The Association of Independent Financial Advisers is launching an initiative which is designed to ease IFA concerns over retrospective action taken by financial services regulators.
Entitled Stakes in the Ground, this immense data-gathering project will for the first time put on record the accepted practice and processes of an intermediary related to giving investment advice today, along with documented evidence of how decisions are made in that process alongside economic conditions affecting them. Chris Cummings, Aifa director general, believes the database could help to reduce the prospect of retrospective legislation or regulatory action as regulators, trade bodies and firms will then have evidence of IFA practise when any reviews or reforms are conducted. Unt...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes